Amazon signs long-term deal with Future Group to strengthen Indian presence
E-commerce giant Amazon has signed announced long-term agreements with Future Group to strengthen its presence in the Indian market.
With these agreements, Amazon India will be the authorized online sales channel for Future Retail and Future Consumer brands. The agreements focus on key categories like fashion, footwear, personal care among others.
Future Group’s brands will now be sold on the Amazon India marketplace and the former will also host its flagship events on the online platform. Future Group’s first sale event 'Sabse Saste Din' is expected to take place on Amazon’s marketplace later this month.
Commenting on the deal, Kishore Biyani, chairman and managing director at Future Group in a statement said, "Amazon and Future Retail share common values of serving customers everywhere in the best possible manner. This arrangement will allow us to build upon each other's strengths in the physical and digital space so that customers benefit from the best services, products, assortment, and price.”
Amit Agarwal, country head at Amazon India, added: “We are excited about the business collaboration with FRL. FRL's national footprint of stores offering thousands of products across fashion, appliances, home, kitchen, and grocery will now be available to millions of customers shopping on Amazon.in, in hours across over 25 cities.”
Last year, Amazon acquired a 49 percent stake in Biyani's Future Coupons, which owns 7.3 percent of Future Retail.
Future Group has a significant presence in the fashion and apparel market. The long-term deal is expected to help Amazon tap into the booming retail market in India besides boosting its e-commerce operations.
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